Common use of Credit Card Processing Services Clause in Contracts

Credit Card Processing Services. Global Direct’s credit card processing services consist of authorization and electronic draft capture of credit card transactions; outclearing of such transactions to the appropriate card associations and/or issuers (e.g., Visa, MasterCard, Diners, Discover); settlement; dispute resolution with cardholders’ banks; and transaction-related reporting, statements and products. From time to time under this Card Services Agreement, upon Merchant’s request, Global Direct may facilitate the transmission of certain payment card transactions ("Switched Transactions") to the respective card issuers, including but not limited to Diners Club® and various fleet, private label and commercial cards. Any Switched Transactions submitted by Merchant require Global Direct’s prior written approval and are subject to applicable pricing; Global Direct does not purchase the indebtedness associated with Switched Transactions. Provisions regarding debit card services are set forth in Section 27 below and shall apply to Merchant in the event that Merchant elects to accept debit transitions as part of the Services. ▇▇▇▇▇▇▇▇ agrees to pay and ▇▇▇▇▇▇▇▇’s account(s) will be charged pursuant to Section 5 of this Card Services Agreement for any additional fees incurred as a result of ▇▇▇▇▇▇▇▇’s subsequent acceptance of transactions with any Visa or MasterCard product that it has elected not to accept.

Credit Card Processing Services. Global Direct’s credit card processing services consist of authorization and electronic draft capture of credit card transactions; outclearing of such transactions to the appropriate card associations and/or issuers (e.g., Visa, MasterCard, Diners, Discover); settlement; dispute resolution with cardholders’ banks; and transaction-related reporting, statements and products. From time to time under this Card Services Agreement, upon Merchant’s request, Global Direct may facilitate the transmission of certain payment card transactions ("“Switched Transactions"”) to the respective card issuers, including but not limited to American Express®, Diners Club® and various fleet, private label and commercial cards. Any Switched Transactions submitted by Merchant require Global Direct’s prior written approval and are subject to applicable pricing; Global Direct does not purchase the indebtedness associated with Switched Transactions. Provisions regarding debit card services are set forth in Section 27 below With respect to Visa and shall apply to MasterCard products, Merchant in the event that Merchant elects may elect to accept debit transitions as part of credit cards or debit/prepaid cards or both. Merchant shall so elect on the ServicesMerchant Application being completed contemporaneously herewith. ▇▇▇▇▇▇▇▇ Merchant agrees to pay and ▇▇▇▇▇▇▇▇Merchant’s account(s) will be charged pursuant to Section 5 of this Card Services Agreement for any additional fees incurred as a result of ▇▇▇▇▇▇▇▇Merchant’s subsequent acceptance of transactions with any Visa or MasterCard product that it has elected not to accept.